Global Overview at a Glance... KOTRA Publishes '2021 Global Startup Ecosystem' Report

[Asia Economy Reporter Kiho Sung] KOTRA announced on the 1st that it has published the '2021 Global Startup Ecosystem,' which provides a detailed introduction to the startup ecosystems of major countries and cities around the world. Employees from KOTRA's overseas trade offices in 25 cities across 16 countries, including Silicon Valley, New York, London, Paris, Helsinki, and Singapore, participated in writing the book. KOTRA included information on the startup ecosystems of each country collected and researched locally overseas.

This book is composed of two volumes: the upper volume covering the United States and East Asia, and the lower volume covering West Asia, Europe, and Oceania. The book contains features of the startup ecosystems by 25 cities in 16 countries, startup investment scales and trends, country-specific startup support policies, local startup conferences, and incubation programs. In particular, it includes interviews on cases of domestic startups entering overseas markets, areas of interest for overseas venture capital investors, and advice for Korean startups.

Additionally, KOTRA presented characteristics of regional startup ecosystems and promising investment sectors. In Europe, blockchain, robotics, agricultural technology (Ag-Tech), new food, artificial intelligence (AI), big data, and advanced manufacturing technology startups are promising. Europe, which is promoting the Green Deal policy aiming for zero carbon emissions by 2050, is actively investing in cleantech startups such as renewable energy technology, climate analysis, and recycling technology.

The United Kingdom, which is approaching Brexit, attracted 30% of all venture capital investments in Europe. Healthtech, edutech, agritech, and cleantech are considered promising sectors in the UK. In particular, the UK is leading the global market in fintech.

In Southeast Asia, where smartphone penetration and online shopping are rapidly increasing, investment in fintech startups related to P2P lending and mobile payment services is active.

The United States, which has the largest number of startups valued at over one billion dollars globally, shows prominent investment in artificial intelligence, the Internet of Things, and big data.

Japan, with a solid manufacturing base, shows strength in the Internet of Things (IoT) sector that combines hardware with software technologies such as artificial intelligence, fintech, and robotics. Recently, investments have been focused on startups solving labor shortages caused by aging and low birth rates, such as smart factories and nursing care robots.

Kwon Pyung-oh, President of KOTRA, stated, “I hope this book, which concretely contains the global startup ecosystem, economic environment, and investment trends, will be helpful to those dreaming of starting a business and expanding overseas.”

This content was produced with the assistance of AI translation services.